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A multidimensional decisions modeling framework for built space supply

Author

Listed:
  • Farooq, Bilal

    (École Polytechnique Montréal)

  • Miller, Eric J.

    (University of Toronto)

  • Haider, Murtaza

    (Ryerson University)

Abstract

The spatial and temporal distribution of built space supply plays an important role in shaping urban form and thus the general travel pattern in an urban area. Within an integrated framework, we are interested in modeling the decisions of a builder in terms of when, where, what type, and how much built space to build. We present a multidimensional discrete-continuous model formulation for the built space supply decisions that are based on expected profit maximization. The framework is applied to estimate a model for supply of new office space in the greater Toronto area (GTA) for the 1986 to 2006 period. To our knowledge, this work is the first that models the where, when, how much, and what type of office space to build in a single econometric framework at a fairly disaggregate spatial zoning system. The results indicate risk taker behavior on the builders’ part, while market conditions and supply of resources (labor, construction cost, etc.) are also found to be important factors in decision making.

Suggested Citation

  • Farooq, Bilal & Miller, Eric J. & Haider, Murtaza, 2013. "A multidimensional decisions modeling framework for built space supply," The Journal of Transport and Land Use, Center for Transportation Studies, University of Minnesota, vol. 6(3), pages 61-74.
    • Handle: RePEc:ris:jtralu:0114
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    Citations

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    Cited by:

    1. Sikder, Sujan & Pinjari, Abdul Rawoof, 2013. "The benefits of allowing heteroscedastic stochastic distributions in multiple discrete-continuous choice models," Journal of choice modelling, Elsevier, vol. 9(C), pages 39-56.
    2. Pinjari, Abdul Rawoof & Augustin, Bertho & Sivaraman, Vijayaraghavan & Faghih Imani, Ahmadreza & Eluru, Naveen & Pendyala, Ram M., 2016. "Stochastic frontier estimation of budgets for Kuhn–Tucker demand systems: Application to activity time-use analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 88(C), pages 117-133.

    More about this item

    Keywords

    Built space supply; integrated urban systems; choice modelling;
    All these keywords.

    JEL classification:

    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General

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